Delphi Corp. bonds skidded yesterday after the auto parts supplier's chief executive indicated that a Chapter 11 filing is still a possibility before the bankruptcy laws change on Oct. 17.

Delphi's widely traded 6.550 percent notes due 2006 fell nearly four points to 72 1/2, according to MarketAxess. Its 7 1/8 percent notes due 2029 dropped more than two points to 62.

In an interview Delphi chief executive Robert "Steve" Miller said that virtually every day he reconsiders filing for bankruptcy before the law becomes more prohibitive.

Fitch Ratings downgraded General Motors Corp.'s ratings yesterday, a reminder that the Detroit auto giant's credit quality, and its overall financial health, remain tenuous in an environment of high gas prices, stiff competition and an expensive work force.